International Centre for Settlement of Investment Disputes
- noun one of the five institutions that comprises the World bank group. It was established in 1966 to undertake the role previously undertaken in a personal capacity by the President of the World Bank in assisting in mediation or conciliation of investment disputes between governments and private foreign investors. The overriding consideration in its establishment was that a specialist institution could help to promote increased flows of international investment. Although ICSID has close links to the World Bank, it is an autonomous organisation.
- One of the five institutions that comprise the World Bank Group, ICSID provides facilities for the settlement - by conciliation or arbitration - of investment disputes between foreign investors and their host countries.